Irish manufacturing records sharp drop in demand as recession fears grow

Excluding the pandemic, the falls in new work and production were the strongest since August 2009, when the last recession gripped Ireland

The PMI also showed employment in the manufacturing sector declined for the first time since 2020, albeit marginally, due to the drop in new orders.

Irish factories experienced a sharp slowdown in manufacturing activity last month as fears of a global recession continue to creep higher.

Manufacturing output declined in November as the sector recorded the steepest contraction of new orders since the start of the pandemic around May 2020, according to AIB’s latest manufacturing Purchasing Managers Index, or PMI.